Utah’s unemployment rate stays at 2.6%

Park City's Historic Main Street. Photo: Townlift

PARK CITY, Utah — The Department of Workforce Services released its economic report for August, showing a relatively similar picture compared to recent months.

The state unemployment rate stayed at 2.6%, unchanged from July. The state’s rate is half of the national rate. The unemployment rate for the entire country is currently 5.2%.

“Utah’s recent three-month employment surge peaked last month” said Mark Knold, Chief Economist at the Department of Workforce Services.

“August’s two-year growth rate of 3.8% is down from July’s 4.2%. This moderation parallels a slight national economic slowing. With the Delta variant ramping up, consumer spending has lessened. It is still robust but pulling back a bit. Such a reaction is not unusual given the variant’s unknowns. The economic slowing however, should not develop into an economy breaker.”

Compared to August 2019, Utah’s private sector employment has grown 4.7%.

Largest private sector gains in past two years:

• Professional and Business Services: 20,200 jobs
• Trade, Transportation and Utilities: 16,800 jobs
• Construction: 11,300 jobs
• Manufacturing: 8,900 jobs

Largest private sector losses during the past two years:

• Leisure and Hospitality Services: -2,400 jobs
• Natural Resources and Mining: -1,100 jobs
• Information: -800 jobs
• Other Services: -400 jobs